1. 利是 (lei si): This is the most common way to say "red envelope" in Cantonese, especially during the Chinese New Year. It literally translates to "lucky money".
2. 紅封包 (hung fung bau): This is a more literal translation of "red envelope". It's less common than "lei si" but still understood.
So, depending on the context, you can choose either "lei si" or "hung fung bau". But most of the time, "lei si" is the preferred choice.